27th Nov 2009 07:00
27 November 2009
CAPITAL & REGIONAL PLC:
SALE OF BEXLEYHEATH SHOPPING CENTRE
BY THE MALL FUND
Capital & Regional plc, the co-investing property asset manager, today announces that the Mall Fund has sold Bexleyheath Shopping Centre to LaSalle Investment Management for a price of £97.9m including a sum of £3.3m conditional upon achieving rental uplifts on certain lease renewals.
The price of £97.9m represents a deemed net initial yield of 7.55%.
The valuation of the centre at 30 September 2009 was £90.7m.
Completion of the sale is expected to occur in early December 2009.
Capital & Regional has an interest of 16.7% in the Mall Fund.
For further information:
Capital & Regional:
Charles Staveley, Group Finance Director Tel:020 7932 8000
Maitland
Martin Leeburn/Emma Burdett Tel:020 7379 5151
Related Shares:
Capital & Regional